Research
Analysis of Monetary Policy, Capital, Saving, FDI, and Economic Development for High and Middle Income Economies with ARDL Approach
Monetary policy and macroeconomic factors play a decisive and fascinating role to determine the economic output of the country. Policymakers and economists take very seriously and consider them deterministic because these factors have an influence on each other. Therefore, the research has the objective to delineate the effect of monetary policy and all given indicators together on economic development precisely and their interdependence as well. ARDL (Autoregressive Distributed Lag) Bounds test cointegration technique is applied by employing annual time series data from 1980 to 2018. Money supply, lending interest rate, inflation, capital, saving, FDI, and economic development are said to be independent variables and explanatory variables one by one for each country separately to ascertain their interdependence
Energy Prices and the Financial Performance of Different Industries in Pakistan
The study conducted to analyze the influence of energy prices on the financial performance of large-scale manufacturing industries listed in Pakistan Stock Exchange over the period of 2007 to 2016. The financial indicators namely, return on equity, return on asset and profit margin ratio are used as dependent variables while exchange rate is used as control variable. This research used five different industrial sectors of Pakistan namely textile sector, cement sector, sugar sector, automobile assembling sector, and pharmaceutical sector. The population consisted of 170 companies however only 67 companies included in the sample of the study based on availability and accessibility of the data. The panel regression method employed for each sector of the study separately. The fixed effect estimator and random effect estimator applied to each sector of the study along with key financial indicators separately. The Hausman test performed to ratify the appropriate method of regression analysis between the fixed effect model and random effect model. In the decisive remarks, energy prices have significant and positive association with the financial performance of large-scale industries of Pakistan.
